Erste Group Bank Estimates Ross Stores FY2028 Earnings

Ross Stores, Inc. (NASDAQ:ROST) – Equities research analysts at Erste Group Bank cut their FY2028 EPS estimates for shares of Ross Stores in a report released on Wednesday, October 21st. Erste Group Bank analyst H. Engel now forecasts that the apparel retailer will post earnings of $8.92 per share for the year, down from their previous estimate of $8.96. The consensus estimate for Ross Stores’ current full-year earnings is $8.15 per share.

Several other equities analysts have also commented on ROST. Sanford C. Bernstein upped their price target on Ross Stores from $230.00 to $240.00 and gave the company a “market perform” rating in a research note on Friday, August 21st. Weiss Ratings raised Ross Stores from a “buy (b)” rating to a “buy (a-)” rating in a research report on Friday, October 16th. JPMorgan Chase & Co. raised their price objective on Ross Stores from $262.00 to $272.00 and gave the stock an “overweight” rating in a research report on Friday, August 21st. Wolfe Research assumed coverage on shares of Ross Stores in a report on Wednesday, October 21st. They issued an “outperform” rating and a $279.00 price objective on the stock. Finally, Wall Street Zen cut shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Saturday. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $268.83.

Ross Stores Price Performance

NASDAQ:ROST opened at $234.11 on Monday. Ross Stores has a 52 week low of $157.39 and a 52 week high of $257.00. The company has a quick ratio of 0.98, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $74.79 billion, a P/E ratio of 28.34, a P/E/G ratio of 1.93 and a beta of 0.83. The stock’s fifty day moving average is $231.73 and its two-hundred day moving average is $221.03.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.71. The firm had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.16 billion. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.56 earnings per share.

Ross Stores Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th were issued a $0.4450 dividend. This represents a $1.78 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, September 8th. Ross Stores’s dividend payout ratio (DPR) is 21.55%.

Insider Activity at Ross Stores

In other Ross Stores news, insider Stephen Brinkley sold 6,424 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $229.66, for a total value of $1,475,335.84. Following the sale, the insider owned 51,665 shares of the company’s stock, valued at $11,865,383.90. The trade was a 11.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James Conroy sold 49,205 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $229.48, for a total value of $11,291,563.40. Following the completion of the sale, the chief executive officer directly owned 134,349 shares in the company, valued at approximately $30,830,408.52. The trade was a 26.81% decrease in their position. The SEC filing for this sale provides additional information. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ross Stores

Institutional investors have recently modified their holdings of the company. Net Worth Advisory Group increased its stake in shares of Ross Stores by 4.2% in the 3rd quarter. Net Worth Advisory Group now owns 1,047 shares of the apparel retailer’s stock valued at $245,000 after acquiring an additional 42 shares during the last quarter. Greenleaf Trust boosted its stake in Ross Stores by 0.9% during the 2nd quarter. Greenleaf Trust now owns 6,026 shares of the apparel retailer’s stock worth $1,283,000 after acquiring an additional 51 shares during the last quarter. Cooper Financial Group boosted its stake in Ross Stores by 2.8% during the 2nd quarter. Cooper Financial Group now owns 1,919 shares of the apparel retailer’s stock worth $409,000 after acquiring an additional 52 shares during the last quarter. RFG Advisory LLC boosted its stake in Ross Stores by 3.8% during the 2nd quarter. RFG Advisory LLC now owns 1,430 shares of the apparel retailer’s stock worth $304,000 after acquiring an additional 52 shares during the last quarter. Finally, Eastern Bank grew its holdings in Ross Stores by 0.5% during the third quarter. Eastern Bank now owns 10,557 shares of the apparel retailer’s stock valued at $2,464,000 after purchasing an additional 57 shares during the period. 86.86% of the stock is owned by institutional investors and hedge funds.

Ross Stores Company Profile

Ross Stores, Inc is an off-price apparel and home fashion retailer headquartered in Dublin, California. The company operates primarily through its Ross Dress for Less stores, which offer branded and designer apparel, accessories, footwear, and home merchandise at discounts to regular department and specialty store prices.

Ross Stores also operates dd’s DISCOUNTS, a chain focused on value-oriented apparel, accessories, footwear, and home products. Both retail formats generally purchase merchandise opportunistically from manufacturers, department stores, and other suppliers, allowing the company to offer changing assortments and discounted prices.

Founded in 1950, Ross Stores serves customers across the United States through its store network and e-commerce presence.